Friday, December 11, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
http://www.globalpropertysystems.com
Thousands of New York’s elderly population may be forced to decide between renewing their real estate tax exemptions or risking contracting Covid-19 with a trip to their town hall during the height of the pandemic.
In a few weeks, senior citizens who earn more than $38,000 per year must re-apply for their real estate tax exemptions, which often save them thousands of dollars a year. To do this, they’ll need to fill out and file renewal documents with their town. Some New York lawmakers are concerned that seniors will put themselves at risk for contracting Covid-19 during the trip to their town hall.
State Senator David Carlucci is presenting a bill to the New York State Assembly which will allow seniors to be automatically renewed for 2021. “We don't want a situation
where seniors feel forced that they have to travel to the Town Hall in this ...
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hudson valley real estate, 'urb to 'burb, hudson valley home owners, property taxes, lower property taxes, covid 19, senior citizens
Tuesday, November 10, 2020 / by Vanessa Saunders
Photo by Bruno Bucar on Unsplash
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
After months of campaigning, weeks of voting and untold hours of the media digesting and regurgitating the story of the moment, we have survived another presidential election. Given the challenges we faced during the campaign - a deadly pandemic, an economy suffering the worst recession since the depression and numerous hot-button racial and immigration issues - we still have a real estate market that's white hot, and record-low mortgage rates that have pushed prices to new heights. So what issues can New York real estate expect for the next four years? Here’s the short list according to a report from Inman News.
Affordable housing
The Biden campaign’s housing proposal pinpointed the dearth of housing supply as the driving force behind the affordability crisis.
Biden has pledged to invest $640 billion in housing over the next 10 years. Among other h ...
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hudson valley real estate, hudson valley home, 'urb to 'burb, hudson valley home owners, hudson valley home sellers, selling your home, pandemic, lower property taxes, capital gains taxes, racial discrimination, racial steering, red lining
Tuesday, March 31, 2020 / by Vanessa Saunders
March 31, 2020
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Every home owner pays property taxes on their home or commercial property. No one likes how much they're taxed. Even if you pay off your mortgage, taxes are still assessed. Along with death, they never go away. But there are some simple tricks home owners can use to lower the taxes they pay. Most involve lowering either the estimated value of the property, or lowering the tax rate.
Ask to see your property card.
Your town hall has tax cards for every home that is taxed by that municipality. This card includes information about the size of the lot, the precise dimensions of the rooms, and the number and type of fixtures located within the home. Other information may include a section on special features or notations about any improvements made to the existing structure.
Errors are not uncommon on tax cards, so as you review your card, note any discrepancies, and raise these issues with the tax; ...
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hudson valley real estate, hudson valley property, hudson valley home owners, 'urb to 'burb, home inspections, lower property taxes, appraisals, taxes
Monday, June 10, 2019 / by Vanessa Saunders
If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Maybe your children have finally moved out. Your large, four-bedroom house with three bathrooms which used to fit the whole family no longer fits the bill. Taxes that have gotten too high already are rising again. Utilities are too expensive. Cleaning and repair are too just too much. You're ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.
The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to 72). Here are a few of the more interesting topics.
Percentage of Buyers who Looked Online First
All Buyers: 44%
Younger Boomers: 46%
Older Boomers: 44%
Where Boomers Found the Home They Pu. ...
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hudson valley real estate, hudson valley property, hudson valley home, home investment, hudson valley home owners, hudson valley home sellers, 'urb to 'burb, hudson valley house, lower property taxes
Thursday, April 4, 2019 / by Vanessa Saunders
Most homeowners who haven't officially contested the assessed value of their home in the last few years are likely paying too much. Contesting (called "grieving") your property taxes takes a little time and some paperwork, but it's often worth it, especially if you are selling your home or feel your assessment is too high. Richard D. O'Donnell, a property tax consultant and former tax assessor for the Town of Eastchester, the Village of Tuckahoe, and the Town of Mount Pleasant recommends assessment grievance for owners of higher priced properties. "As the high end market is soft in many jurisdictions, property owners in this particular price category should consider filing”. O'Donnell, and his partner Michael Cullen offer tax grievance services for those who would like assistance in filing for a reduction in their property taxes.
For those who do wish to grieve their property assessments themselves, below are the basic steps in the process:
1. Find out if your assessment refl. ...
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hudson valley real estate, hudson valley property, hudson valley home, hudson valley home sellers, westchester county, rockland county, house pricing, lower property taxes
